cisco
The US-based network equipment supplier Cisco on Tuesday announced a $1 billion global investment fund to develop artificial intelligence-powered solutions for networking, security, and observability. The company said it would make investments in artificial intelligence (AI) companies Cohere, Mistral AI, and Scale AI to enhance customer readiness, compute infrastructure, foundational models, model development, and AI training. "For more than 30 years, Cisco Investments has invested and partnered with hundreds of companies to drive innovation both within Cisco's core markets and in new strategi...
DPA International
A solid forecast from US-based network equipment supplier Cisco for the current quarter has raised hopes on the stock market for a recovery in IT spending. Cisco shares rose by around 5% in after-hours trading on Wednesday. Cisco predicted sales of between $13.4 billion and $13.6 billion for the current quarter. Analysts had expected an average of $13.5 billion. Cisco's earnings per share forecast was also slightly above expectations. Chief executive Chuck Robbins is working on expanding Cisco's network technology business with software and services. In Cisco's third financial quarter, which e...
DPA International
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